Rowland & Co. Investment Counsel ADV increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,505 shares of the company’s stock after purchasing an additional 470 shares during the period. Rowland & Co. Investment Counsel ADV’s holdings in Cummins were worth $2,572,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. ETRADE Capital Management LLC raised its position in Cummins by 1.4% during the 2nd quarter. ETRADE Capital Management LLC now owns 2,027 shares of the company’s stock worth $329,000 after buying an additional 27 shares during the last quarter. Advisory Services Network LLC raised its position in Cummins by 0.3% during the 2nd quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after buying an additional 51 shares during the last quarter. Veritable L.P. raised its position in Cummins by 1.3% during the 2nd quarter. Veritable L.P. now owns 4,884 shares of the company’s stock worth $792,000 after buying an additional 65 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in Cummins by 1.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,730 shares of the company’s stock worth $605,000 after buying an additional 67 shares during the last quarter. Finally, Guardian Capital Advisors LP raised its position in Cummins by 2.6% during the 2nd quarter. Guardian Capital Advisors LP now owns 2,950 shares of the company’s stock worth $487,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.

Shares of Cummins Inc. (CMI) traded up $3.34 on Thursday, hitting $183.90. 1,217,415 shares of the stock were exchanged, compared to its average volume of 1,220,000. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The stock has a market cap of $30,520.00, a P/E ratio of 18.69, a PEG ratio of 1.30 and a beta of 1.14. Cummins Inc. has a 1-year low of $134.06 and a 1-year high of $184.51.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.47 by $0.24. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business’s revenue was up 26.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 EPS. equities analysts forecast that Cummins Inc. will post 10.2 EPS for the current fiscal year.

A number of equities analysts have commented on CMI shares. Goldman Sachs Group downgraded shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, November 30th. Zacks Investment Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BMO Capital Markets upped their price objective on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. Oppenheimer started coverage on shares of Cummins in a research report on Thursday, December 7th. They set an “outperform” rating and a $192.00 price objective for the company. Finally, Piper Jaffray Companies set a $170.00 price objective on shares of Cummins and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Cummins has a consensus rating of “Hold” and an average target price of $178.69.

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Cummins Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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